Europe Stocks: Lean into the Pullback

Strategas Research Partners' technical analysis suggests the Stoxx Europe 600 is "close to bottoming" after a 5% pullback.

By

Crystal Kim

July 27, 2017 11:41 a.m. ET

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By

Crystal Kim

July 27, 2017 11:41 a.m. ET

Since Barron's "Europe on Sale" cover story, the Stoxx Europe 600 has fallen about 5%.

The Vanguard FTSE Europe (VGK), SPDR Euro STOXX 50 (FEZ), and iShares MSCI Europe Financials (EUFN) are trading near 52-week highs, but are all down modestly on the day as of Thursday afternoon. Strategas Research Partners' Chris Verrone suggests leaning into the pullback. He says many European markets including Germany, France, Spain and Italy are back to supportive levels. In a note published this morning he wrote: